Bank of England

Interest rates and Bank Rate

Reuters

Lagarde Comments Ecb Press Conference 2026 02 05

julianHjessop

Lack of demand means falling Eurozone inflation is not a cause for celebration

Institute of Economic Affairs

Bank of England remains in the slow lane on rate cuts

European Central Bank

Monetary policy statement

Europa

GDP up by 0.3% in both the euro area and the EU

EuroNews

Daily Sabah

ECB, BoE keep rates steady with another knife-edge vote in London

Bank Rate maintained at 3.75% - February 2026 Monetary Policy Summary and Minutes

Monetary policy decisions

Guido Fawkes

Bank of England Holds Interest Rates at 3.75%

PolitlcsUK

GB News

Bank of England holds base rate at 3.75% amid inflation concerns as economy enters 'delicate phase'

Financial Times

Bank of England holds rates steady at 3.75% in knife-edge vote

Guardian

Bank of England keeps interest rates at 3.75% as inflation concerns persist

Monetary Policy Report - February 2026

Metaculus

Negative ECB Interest Rate before 2023?

The Bank of England's Monetary Policy Committee voted 5-4 to maintain the base interest rate at 3.75% on Thursday, with four members preferring a 0.25 percentage point reduction to 3.5%. Meanwhile, the European Central Bank also held its deposit facility rate unchanged at 2% on the same day.

The Bank of England's Monetary Policy Committee voted 5-4 to maintain the base interest rate at 3.75% on Thursday, with four members preferring a 0.25 percentage point reduction to 3.5%. Meanwhile, the European Central Bank also held its deposit facility rate unchanged at 2% on the same day.

The Bank of England projects U.K. inflation will fall to around 2% by spring 2026, earlier than the 2027 timeline forecast in November 2025, largely due to energy price developments, including measures from the 2025 Budget. The European Central Bank confirmed eurozone inflation fell to 1.7% in January 2026.

The Bank of England projects U.K. inflation will fall to around 2% by spring 2026, earlier than the 2027 timeline forecast in November 2025, largely due to energy price developments, including measures from the 2025 Budget. The European Central Bank confirmed eurozone inflation fell to 1.7% in January 2026.

The Bank of England also downgraded its U.K. gross domestic product (GDP) growth forecast for 2026 from 1.2% to 0.9% and raised its unemployment rate projection to peak at 5.3%. The ECB noted the euro area economy "remain[ed] resilient in a challenging global environment," having grown by 1.5% in 2025.

The Bank of England also downgraded its U.K. gross domestic product (GDP) growth forecast for 2026 from 1.2% to 0.9% and raised its unemployment rate projection to peak at 5.3%. The ECB noted the euro area economy "remain[ed] resilient in a challenging global environment," having grown by 1.5% in 2025.

Bank of England Governor Andrew Bailey stated there would be scope for further rate cuts in 2026 if the economy evolves as expected. ECB President Christine Lagarde cited ongoing global trade policy uncertainty, while claiming underlying inflation indicators had seen little recent change.

Bank of England Governor Andrew Bailey stated there would be scope for further rate cuts in 2026 if the economy evolves as expected. ECB President Christine Lagarde cited ongoing global trade policy uncertainty, while claiming underlying inflation indicators had seen little recent change.

The Bank of England's Agents' pay survey indicates U.K. private sector pay settlements will average 3.4% in 2026, down from 4% in 2025, which policymakers consider close to target-consistent levels. The ECB noted negotiated wage growth indicators point to continued moderation in eurozone labor costs.

The Bank of England's Agents' pay survey indicates U.K. private sector pay settlements will average 3.4% in 2026, down from 4% in 2025, which policymakers consider close to target-consistent levels. The ECB noted negotiated wage growth indicators point to continued moderation in eurozone labor costs.

Financial markets increased bets on a Bank of England rate cut in March 2026 to nearly 50% following the February decision, while the pound weakened 0.6% against the dollar. The euro remained steady around 1.18 against the dollar after the ECB's decision, with eurozone equities edging higher.

Financial markets increased bets on a Bank of England rate cut in March 2026 to nearly 50% following the February decision, while the pound weakened 0.6% against the dollar. The euro remained steady around 1.18 against the dollar after the ECB's decision, with eurozone equities edging higher.

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The Bank of England's Monetary Policy Committee voted 5-4 to maintain the base interest rate at 3.75% on Thursday, with four members preferring a 0.25 percentage point reduction to 3.5%. Meanwhile, the European Central Bank also held its deposit facility rate unchanged at 2.00% on the same day.

The Bank of England's Monetary Policy Committee voted 5-4 to maintain the base interest rate at 3.75% on Thursday, with four members preferring a 0.25 percentage point reduction to 3.5%. Meanwhile, the European Central Bank also held its deposit facility rate unchanged at 2.00% on the same day.

The Bank of England projects U.K. inflation will fall to around 2% by spring 2026, earlier than the 2027 timeline forecast in November 2025, largely due to energy price developments including measures from Budget 2025. The European Central Bank confirmed eurozone inflation fell to 1.7% in January 2026.

The Bank of England projects U.K. inflation will fall to around 2% by spring 2026, earlier than the 2027 timeline forecast in November 2025, largely due to energy price developments including measures from Budget 2025. The European Central Bank confirmed eurozone inflation fell to 1.7% in January 2026.

The Bank of England downgraded its U.K. gross domestic product (GDP) growth forecast for 2026 from 1.2% to 0.9% and raised its unemployment rate projection to peak at 5.3%, up from the previously expected 5.1%. The ECB noted the euro area economy "remain[ed] resilient in a challenging global environment," having grown by 1.5% in 2025.

The Bank of England downgraded its U.K. gross domestic product (GDP) growth forecast for 2026 from 1.2% to 0.9% and raised its unemployment rate projection to peak at 5.3%, up from the previously expected 5.1%. The ECB noted the euro area economy "remain[ed] resilient in a challenging global environment," having grown by 1.5% in 2025.

Bank of England Governor Andrew Bailey stated there would be scope for further rate cuts in 2026 if the economy evolves as expected, though he emphasized judgements around further easing will become a closer call. ECB President Christine Lagarde cited ongoing global trade policy uncertainty while claiming underlying inflation indicators had seen little recent change.

Bank of England Governor Andrew Bailey stated there would be scope for further rate cuts in 2026 if the economy evolves as expected, though he emphasized judgements around further easing will become a closer call. ECB President Christine Lagarde cited ongoing global trade policy uncertainty while claiming underlying inflation indicators had seen little recent change.

The Bank of England's Agents' pay survey indicates U.K. private sector pay settlements will average 3.4% in 2026, down from 4.0% in 2025, which policymakers consider close to target-consistent levels. The ECB noted negotiated wage growth indicators point to continued moderation in eurozone labor costs.

The Bank of England's Agents' pay survey indicates U.K. private sector pay settlements will average 3.4% in 2026, down from 4.0% in 2025, which policymakers consider close to target-consistent levels. The ECB noted negotiated wage growth indicators point to continued moderation in eurozone labor costs.

While the European Central Bank's decision to hold rates steady reflects a resilient eurozone economy underpinned by solid fundamentals, the Bank of England's inflation projections contain positive revisions showing inflation falling quicker than expected. Both banks will continue to maintain sensible monetary policyamid global volatility, ensuring fiscal responsibility across Europe.

While the European Central Bank's decision to hold rates steady reflects a resilient eurozone economy underpinned by solid fundamentals, the Bank of England's inflation projections contain positive revisions showing inflation falling quicker than expected. Both banks will continue to maintain sensible monetary policyamid global volatility, ensuring fiscal responsibility across Europe.

Beyond the headlines of prudency lies fundamental challenges within both economic zones. As Britain witnesses shrinking growth and increasing inflation, euro zone inflation remaining below its 2% target exposes continued challenges with consumeer demand and growth. Despite the pleasantries, steady interest rates should not be confused with fiscal success.

Beyond the headlines of prudency lies fundamental challenges within both economic zones. As Britain witnesses shrinking growth and increasing inflation, euro zone inflation remaining below its 2% target exposes continued challenges with consumeer demand and growth. Despite the pleasantries, steady interest rates should not be confused with fiscal success.

Julian Jessop

There is a 12% chance that the ECB deposit facility interest rate will be negative before 2033, according to the Metaculus prediction community.

There is a 12% chance that the ECB deposit facility interest rate will be negative before 2033, according to the Metaculus prediction community.

European Central Bank and Bank of England Both Keep Interest Rates Steady

David Paul Morris/Bloomberg/Getty Images

European Central Bank and Bank of England Both Keep Interest Rates Steady

Economic conditions & trends

United Kingdom

Europe

The European Central Bank's decision to hold rates steady reflects a resilient eurozone economy underpinned by solid fundamentals, while the Bank of England's inflation projections contain positive revisions showing inflation falling quicker than expected. Both banks will continue to maintain sensible monetary policy amid global volatility, ensuring fiscal responsibility across Europe.

The European Central Bank's decision to hold rates steady reflects a resilient eurozone economy underpinned by solid fundamentals, while the Bank of England's inflation projections contain positive revisions showing inflation falling quicker than expected. Both banks will continue to maintain sensible monetary policy amid global volatility, ensuring fiscal responsibility across Europe.

Beyond the headlines of prudency lie fundamental challenges within both economic zones. As Britain witnesses shrinking growth and increasing inflation, euro zone inflation remaining below its 2% target exposes continued challenges with consumer demand and growth. Despite the pleasantries, steady interest rates should not be confused with fiscal success.

Beyond the headlines of prudency lie fundamental challenges within both economic zones. As Britain witnesses shrinking growth and increasing inflation, euro zone inflation remaining below its 2% target exposes continued challenges with consumer demand and growth. Despite the pleasantries, steady interest rates should not be confused with fiscal success.

European Central Bank, Bank of England Keep Interest Rates Steady

European Central Bank, and Bank of England Both Keep Interest Rates Steady

The Spin

Metaculus Prediction

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